Arbitrum Community Proposes to Distribute a Portion of DAO’s Accumulated Income Among ARB Token Holders
The Arbitrum second-tier network community recently proposed to distribute a portion of the DAO’s accumulated income of 3352 ETH among ARB governance token holders.
This new initiative is intended to give an incentive to the community and demonstrate that ARB tokens are not “useless governance tokens.”
The reward will be proportional to the number of coins delegated by each holder and a special distribution mechanism will need to be created to make this happen.
ARB holders must apply to participate in the giveaway, with only delegated token holders being eligible to receive the reward.
The DAO will inform about the timing of distribution later. In early April, the community had rejected the proposal to transfer control over 750 million ARB to the Arbitrum Foundation, which was intended to use the funds to provide grants for the development of the ecosystem.
However, the protocol had still managed to distribute 113 million ARB tokens — 1.13% of the total supply of the coin — to the addresses of 125 decentralized autonomous organizations.
